The rate was last changed in November 2016
- Sees official cash rate at 1.8% in September 2018 (unchanged)
- Sees official cash rate of 1.8% in June 2019 (down from 1.9%)
- sees official cash rate at 1.9% in September 2019 (unchanged)
- sees official cash rate at 2.4% in June 2021
- sees annual CPI 1.6% by June 2019 (down from 1.8%)
- Lows food, import price inflation, subdued wages keep inflation down
- CPI remains below 2%
- expects to keepOCR at this expansionary level for a considerable period of time
- have seen an unprecedented increase in employment
- immigration added to the supply of labor
- keeping OCR at current level best contribution to maximizing sustainable employment
- keeping OCR and current level best contribution to maintaining low and stable inflation
- the direction of our next move is equally balance, up or down
- global inflation pressures are expected to rise but remain contained.
The NZDUSD has moved lower on the lower inflaton outlook from the RBNZ.
The price did move below the 0.6944-51 level on the headlines. We currently trade at 0.6948. The low reached 0.6938 on my chart at least. The high after the run low moved up to 0.69538. The bears area trying to make a push below the next key support.
The press conference will be at the top of the hour.
